Joko pushing for lower bank lending rates
He also requests state energy firm Pertamina to cut fuel prices if possible to help boost purchasing power
Jakarta
INDONESIA'S President, Joko Widodo, will seek to encourage reductions in bank lending rates and fuel prices as part of a package of policy reforms due to be announced next week, the chief economics minister said on Friday.
But the central bank governor cautioned that the weak rupiah, currently trading at 17-year lows versus the US dollar, might make it risky to lower their interest charges.
"(Banks) also have to consider expectations of (rupiah) depreciation," Bank Indonesia governor Agus Martowardojo told reporters. "Inflation is better - below 7 per cent. Bu…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Overcrowded Venice introduces first payment charge for tourists
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India’s Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah